267: 24 Units in 2 Years by Making Your Rentals Match the Market w/Andrew Freed

Real Estate Rookie

BiggerPockets

How To, Education, Business, Investing, Entrepreneurship

4.8 • 1.7K Ratings

🗓️ 8 March 2023

⏱️ 66 minutes

🔗️ Recording | iTunes | RSS

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Summary

Twenty-four rental units in two years! It’s possible, but only if you’re using the same principles that today’s guest has employed. With house hacking, HELOCs, the 80/20 rule, and a few more strategic investing moves, you too could fast-track your path to financial freedom. If you want to build your dream real estate portfolio without sacrificing decades in the process, these strategies will help you do it! For Andrew Freed, a full-time project manager, real estate agent, and investor, these strategies have been life-changing. And even if you’re still a real estate rookie, you can do exactly what Andrew did to reach the same results. Thankfully, Andrew’s investing methods, tips, and tricks are well-rounded, well-developed, and easy to follow. In this episode, Andrew walks us through how he managed to buy twenty-four units in two years, the moment the gears started turning in his mind, his personal development process, and the key principle that keeps him focused on his goals. Andrew also gives us his best advice for predicting and preventing problems in your rental properties, stabilizing, and raising the rent. From gaining the confidence to get started to finding investment partners, he offers valuable, step-by-step guidance we can all learn from. In This Episode We Cover The 80/20 principle and using it to cut out the unnecessary when investing How focusing on personal development first can make you a better investor Staying focused and getting to your goals faster How to manage your rentals while working a full-time job The key to gaining confidence and going after your dreams The fastest ways to grow and scale your investment portfolio Tips for predicting and preventing problems and stabilizing rental properties Employing the "binder method" to set rent with inherited tenants Using real estate meetups to find mentors and investment partners And So Much More! Links from the Show Find an Investor-Friendly Real Estate Agent Ashley's Instagram Tony's Instagram Airbnb Real Estate Rookie Facebook Group Real Estate Rookie Podcast The Real Estate Podcast MLS BiggerPockets apartments.com BiggerPockets Forums Real Estate Rookie Youtube Channel Simple Steps to Start, Scale, and Grow a Real Estate Business in 2023 The Rookie’s Guide to 2023 Goal Setting: How to Achieve HUGE Goals This Year Books Mentioned in This Episode: Rich Dad Poor Dad by Robert T. Kiyosaki The Miracle Morning by Hal Elrod The Compound Effect by Darren Hardy Connect with Andrew: Andrew's BiggerPockets Profile Andrew's LinkedIn Andrew's Instagram Andrew's Facebook Check the full show notes here: https://www.biggerpockets.com/blog/rookie-267 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Check out our sponsor page! Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is Real Estate Rookie episode 267.
0:05.0	Whenever I get a property under contract, I always put a request, a public
0:08.5	record requesting with the city or the town and request inspection information or
0:12.5	housing violations, and that gives you all the history on the property going as far
0:17.2	back as you request, and that gives you insight into any legal issues that you're
0:21.6	having. You know, any troubled tenants, any issues with the building, and just
0:26.1	that alone will give you insight into kind of what to look for when you do the
0:29.1	inspection, or might give you insight into tools you can use for the
0:32.5	negotiation and to ask for money off, right? So that's kind of one tip that I
0:37.3	think a lot of people don't do, but it's really important with acquiring and
0:42.3	doing your due diligence on a property. My name is Ashley Care and I'm here with
0:46.3	my co-host Tony Robinson. And welcome to the Real Estate Rookie podcast where
0:50.5	every week, twice a week we bring you the inspiration, motivation, and stories you
0:54.7	need to hear to kickstart your investing journey. One of our today's
0:57.3	episode by shouting out someone by the user name of Naftali B and Naftali said
1:03.0	great show. Thank you Ashley and Tony. I really enjoy listening to your show. You
1:06.9	provide great tips, insights, and provide a true path for Rookie to start
1:11.2	investing in real estate. Keep those episodes coming. So for all of our Rookie's
1:14.9	that are listening, if you have not yet left us an honest rating review on Apple
1:18.1	podcast or Spotify, please take the two minutes and like 17 seconds it takes to
1:22.2	do that. The more reviews we get, the more folks who can help. And that's what we
1:26.2	like to do here at the Real Estate Rookie podcast is so people. So what's up Ash?
	...

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